Vietnam gold prices reach another year’s peak
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Vietnam’s gold prices hit another high this year of over VND61 million ($2,677.51) per tael as global prices soared to a five-month high.
Saigon Jewelry Company (SJC) sold its gold for VND61.1 million per tael Tuesday morning, up 0.49 percent from Monday. A tael equals 37.5 grams or 1.2 ounces.
DOJI sold its gold at VND60.9 million, up 0.33 percent.
This means there is now a VND9.8 million gap between Vietnamese, and the global gold rate.
Gold prices are now at $1,862.81 per ounce after rallying to a five-month peak in the previous session, as concerns over broadening inflationary risks kept bullion’s safe-haven appeal intact in the face of a stronger U.S. dollar and elevated bond yields.
Some analysts anticipate further increases, while others remain conservative about the $1,870 resistance.
Questions & Answers
Q.What is the current gold price in Vietnam, according to the article?
What is the current gold price in Vietnam, according to the article?
Saigon Jewelry Company (SJC) sold gold for VND61.1 million per tael on Tuesday morning. DOJI sold gold at VND60.9 million, reflecting a slight difference between sellers.
Q.How do Vietnamese gold prices compare to the global rate?
How do Vietnamese gold prices compare to the global rate?
There is currently a VND9.8 million gap between the Vietnamese gold rate and the global gold rate. Global prices reached a five-month high of $1,862.81 per ounce.
Q.Why are global gold prices currently so high?
Why are global gold prices currently so high?
Concerns over broadening inflationary risks are keeping gold's safe-haven appeal strong. This is happening despite a stronger U.S. Dollar and elevated bond yields.